Supported Primary Indicators
Automater supports any indicator that has some kind of buy and sell signals. These signals can be from the indicator buffers or indicator created objects on the chart. It is not necessary to have the source code of the indicator and it does not matter if the indicator repaints or not.
Buffer based indicators are the indicators whose buy and sell colors can be changed via indicator’s colors tab under settings. You can learn more about buffer based indicators here. On the other hand object based indicators signals can not be controlled via its colors tab but the signals are objects created on chart. You can learn more about object based indicators here.
You can learn more about determining indicator type here.
NB: For buffer based indicators, Automater takes only default settings of your indicator if you have only ex4 file (You can only change the default settings if you have the source code). However, you can use any settings for object based indicators.
Given below are the types of indicators that can be automated.
Type 1 – Indicators generating arrows or similar signs such as thumb up/down, dots, etc. for buying and selling.
Examples:
Signals can be from a sub window as well
Type 2 – Indicators with one line that change colors as per up or downtrend.
Examples:
Signals can be from a sub window as well
Type 3 – Indicators with two lines where buy or sell is determined by the cross over.
Examples:
Signals can be from a sub window as well
Type 4 – Indicators with object based indicators.
This EA will work with almost any object that has a time parameter under properties and also has a common prefix for buy and sell in the object name with different colors for buy & sell objects, or else distinguishable text for buy and sell objects respectively. You can learn more about object based indicators here.
Examples:
Objects can be on a sub window as well
Supported Filtering Indicators – Filter 1 (Second Filter)
You can use any buffer based indicator as the second filtering indicator, preferably one that provides continuous signals that is always present; thus an arrow based indicator may not be suitable for this. You can learn more about the second filter indicator here.
Example for a second filtering indicator:
Supported 3rd Filtering Indicators
You can further filter your first indicator signals by a third indicator. Unlike the second indicator that uses buffer color ID, this third indicator filter uses the values of the buffer/color IDs. For instance, you can use stochastic indicator as third indicator and set a rule to buy only when signal line is below 30 or you can use RSI indicator to buy when RSI is above 50.
Learn more about third filter indicators here.
Supported Exit Indicators
You can optionally use any type 1 buffer based indicator to exit trades.
Learn more about exit indicators here.
Caution on Repainting Indicators:
The EA may make trades/orders as the indicator buffer or object appears. So if your indicator repaints, you might see trades/orders made while no indicator buffer or object visible or buffer or object is painted at a different place. You may increase the candle ID to look at under Settings (for buffer based indicators) or object older than setting (for object based indicators) to delay the entry to see if the signal repaints.
